The American Gaming Association (AGA) has stepped up its campaign against prediction markets, claiming they have cost states and tribal governments more than $1 billion in gaming tax revenue since the start of 2025 and launching a live ticker on its website to track the alleged losses.

AGA President and CEO Bill Miller said the growth of prediction markets is diverting revenue that would otherwise fund schools, infrastructure and tribal community programs. Critics, including the Coalition for Prediction Markets, have challenged the AGA's calculations, arguing they assume every dollar wagered on prediction markets would have been placed with a regulated sportsbook.

As legal and regulatory battles continue, the AGA is increasingly portraying prediction markets as a threat not only to sportsbooks but also to state budgets and tribal gaming revenues.

From the AGA data:

Framing sports wagering as an investment is harmful to consumers. Wagering on sports is not a financial strategy, and the gaming industry has long positioned it as a form of entertainment.

  • Sports event contract bettors are 3x more likely than legal sportsbooks users to describe their activity as investing
  • 25% of sports event contract users report funding activity from investment budgets.
  • BOTTOM LINE: These platforms are blurring the line between financial strategy and what is fundamentally gambling.
See the ticker and read more here: https://www.americangaming.org/sports-event-contracts/